The joint contract was endorsed by Hashem Yekkeh Zare, CEO of IKCO, and Hae-Jin Kim, Vice Chairman and Chief Executive Officer at Hyundai PowerTech Company and marked the third out of 10 contracts to be sealed between Iran Khodro and credible international or domestic manufacturers of auto spare part.
The new six-speed gearboxes are expected to be mounted on modern platforms designed and developed by the Iranian multinational automaker headquartered in Tehran.
The newly-signed contract also aims to gain an appropriate share of local and export markets as IKCO is after installing automatic gearboxes on petroleum-electric hybrid vehicles.
It is worth noting that Hyundai Powertec, as the first automatic transmission manufacturer in Korea, produces 3.7 million gearboxes annually.
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